PowerPac Holdings launches US$8 bn Central Business District including the world’s 5th tallest tower in Dhaka

PowerPac Holdings launches US$8 bn Central Business District including the world’s 5th tallest tower in Dhaka

Sikder Group signs a MoU with the Private Office of Sheikh Ahmed bin Faisal Al Qassimi at the 3rd Bangladesh Economic Forum attended by Bangladesh Foreign Minister Dr AK Abdul Momen and Salman F. Rahman, Advisor to Bangladesh Prime Minister on Investment and Private Industries

Date: Dubai, UAE; March 30, 2022

News Highlights:

  1. Purbachal CBD project is budgeted at US$8 billion – making it one of the largest urban development projects in South Asia;
  2. It will host the world’s fifth tallest and South Asia’s tallest structure, rising up to 473 meters;
  3. The mega CBD project is spread over 114 acres land in Purbachal New Town in Dhaka, Bangladesh;

PowerPac Holdings Ltd, a subsidiary of Sikder Group – one of the largest multi-diversified business conglomerates in Bangladesh – launched a US$8 billion master-planned mixed-use development – Central Business District (CBD) – at the recently held Bangladesh Economic Forum 2022.

It will host the world’s fifth tallest and South Asia’s tallest structure, rising up to 473 meters. In terms of value, this would be one of the largest urban development projects in South Asia.

Cost of US$8 billion Central Business District (CBD) will be developed in a new community – Purbachal New Town in Dhaka, Bangladesh. Sikder Group has signed a partnership with the Private Office of Sheikh Ahmed bin Faisal Al Qassimi of Sharjah, at the Bangladesh Economic Forum 2022 to strengthen business ties.

A cluster of three supertall skyscrapers, named Bangabandhu Tri-Tower, includes a 111-storied Legacy Tower (473 meters), a 71-storied Liberation Tower and a 52- storied floor Language Tower – all connected through a podium – that will be the centerpiece of the 114-acres Central Business District. It will create a new township – that will not only cater to the international tourists, business travelers, but will also be a destination for the upwardly mobile young professionals and budding entrepreneurs with state-of-the-art modern facilities including but not limited to residential, commercial and retail facilities.

PowerPac Holdings has secured the land from Rajdhani Unnayan Kartripakka (RAJUK) or the Capital Development Authority of Dhaka to build the project which is expected to be completed by 2027-28. RAJUK, which regulates the urban development in Bangladesh’s capital city Dhaka, awarded the CBD contract to a consortium of PowerPac Holdings Limited and Kajima Corporation of Japan.

Ron Haque Sikder, Managing Director of Sikder Group, said, “The CBD project reflects our ambition as a diversified business conglomerate and where Bangladesh stands now – in terms of its positioning in the global economy as one of the fastest-growing economies in the world.”

“The project is dedicated to Bangabandhu Sheikh Mujibur Rahman, Father of the Nation of Bangladesh – and our main inspiration to build the nation together – and draws motivation from the pragmatic vision on economic development of the Honorable Prime Minister Sheikh Hasina.

“We have launched the project in Dubai to show the rest of the world what we are capable of doing and how Bangladesh has become a completely different nation within over a decade under the prudent leadership of Honorable Prime Minister Sheikh Hasina.”

Sikder Group has conceptualised the development of the high-end integrated real estate project in the new town of Purbachal having all state-of-the-art facilities/amenities and cutting-edge technologies. The project is directly aligned with the Honourable Prime Minister Sheikh Hasina’s dream of establishing Bangladesh as a ‘globally integrated regional economic and commercial hub’.

Purbachal CBD is poised to shape up as a global business hub with all world-class facilities, including sophisticated business centre, commercial spaces, retail shops, luxurious apartments, convention centre, hospital, international school and all other necessary community facilities to modernise Dhaka’s skyline on the allocated land in Purbachal.

“Following the designing of the master-plan, we are now in the process of finalising the detail engineering and structural design, prior to the commencement of construction planned later this year”

“We have already secured associations with a number of reputed top-tier global entities that will assist us in building this project efficiently. We are currently working on the financial closure of the first phase, which I expect to be concluded by summer this year.”

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